Idea Cellular allots 464734670 equity shares at Rs 156.96 per share to TMI Mauritius Ltd

Idea Cellular Ltd has announced that pursuant to Stock Exchange's in-principle approval for issue of 464,734,670 equity shares of Idea Cellular Ltd (Company) to TMI Mauritius Ltd on a preferential basis, the share issuance committee of the Board of Directors of the Company on August 13, 2008 has completed allotment of all the 464,734,670 equity shares of Rs 10/- each at a price of Rs 156.96 per share on preferential basis against receipt of an aggregate amount of Rs 72,944,753,803.20 representing the full subscription monies for these shares.

The stock closed the day at Rs.87.45, up by Rs.0.35 or 0.40%. The stock hit an intraday high of Rs.88.80 and low of Rs.85.25.

The total traded quantity was 1354257 compared to 2 week average of 1943555.

Source : Equity Bulls

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